Alternative Loan Option

Alternative loans are private, credit-based loans. Alternative Loans are structured similar to Federal Stafford Loans and offer competitive interest rates. Alternative Loans cost more than Federal Stafford Loans due to slightly higher interest rates and guarantee fees. You should always use the lower cost federal loans when possible.

Quick delivery of alternative loan funds is possible due to fast approval and rapid processing.  These loans have repayment options similar to Federal Stafford Loans and offer extended repayment terms sometimes up to 15 to 20 years.  Of course, extended repayment terms also increase the total amount you repay!

 Most lenders who make Stafford Student Loans also make Alternative Loans. Check with your Stafford lender or refer to the following table to identify Alternative Educational Loans that are available to students at Mississippi University for Women. MUW has no "preferred lender agreements or arrangements with any loan provider. The table below is not a complete listing of all possible lenders but it contains the lenders that our students have historically used for their alternative loans.  You may use this information to gather information and to inquire about the application process, the terms and conditions of each lender's particular type of Alternative Loan.